Tue 21st of November 2017
Call us : 09884554654
In a bid to incentivise States to increase allocations for agriculture and allied sectors the, Cabinet Committee on Economic Affairs on Wednesday approved the continuation of Rashtriya Krishi Vikas Yojana (RKVY) for three years — 2017-18 to 2019-20 —renaming it as Rashtriya Krishi Vikas Yojana-Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR).
The financial allocation of the scheme will be 15,722 crore with the objective of making farming a remunerative economic activity through strengthening the farmer’s effort, risk mitigation and promoting agri-business entrepreneurship.
The RKVY-RAFTAAR funds would be provided to States as 60:40 grants between Centre and States (90:10 for North-Eastern States and Himalayan States).
Under the revamped scheme, about 50 per cent of the annual outlay will be provided for setting up infrastructure and assets, 30 per cent for value addition-linked production projects and 20 per cent of the outlay will be flexi-funds.
“States can use this (flexi-funds) for supporting projects as per the local needs,” the release added.
In addition, about 20 per cent of the annual outlay would be provided for implementing special sub-schemes of national priorities under RKVY-RAFTAAR.
Also, 10 per cent of the annual outlay would be provided for innovation and agri-entrepreneur development through creating end-to-end solution, skill development and financial support for setting up the agri-enterprise.
The scheme will incentivise States in enhancing more allocation to agriculture and allied sectors. This will also strengthen farmers’ efforts through creation of agriculture infrastructure that helps in supply of quality inputs, market facilities, etc.
Prelims Question of the Day
With reference to 'Natural Rate of Unemployment', consider the following statements.
1. It is the level of unemployment in an economy that is just consistent with a stable rate of Inflation.
2. It is the unemployment that prevails when all markets in the economy are in equilibrium.
(a)1 and 2
(d)None of the above
Mains Question of the Day
1.GS-No party in power can afford to ignore Directive Principles of State Policy. Comment.(200 Words)
2.Political Science - Explain the role of non state actors, like IMF, World Bank, European Union and MNCs, in modulating and transforming the broad dynamics of international relations. (250 Words).
3.SOCIOLOGY - What is the impact of Globalization on the structure and mobilization of the working class in India? (250 Words).